Bitcoin’s implied volatility approaches historical lows as Strategy indicates a buying opportunity for BTC

Bitcoin (BTC) is expected to reach $95,000 by the end of the week on February 23, as business intelligence firm Strategy is planning a significant buy-in of BTC. Strategy CEO Saylor hinted at an increase in BTC exposure. Despite the recent record hack of crypto exchange Bybit, Bitcoin managed to stabilize its price as traders shifted their focus elsewhere. Open interest across exchanges has declined to its lowest levels since February 9. The buzz surrounding Strategy is due to CEO Michael Saylor posting a chart of the firm’s existing BTC holdings, which is seen as a signal of further buying. Bitcoin’s implied volatility is currently at historical lows, and previous similar compressions have led to major market moves. Glassnode also noted multi-year lows in Bitcoin options implied volatility, which have previously been followed by significant volatility spikes. It is important to note that this article does not provide investment advice and readers should conduct their own research before making any decisions.